MACC probing assets of FashionValet founders

KUALA LUMPUR, Nov 9 — The Malaysian Anti-Corruption Commission (MACC) is investigating the founders of FashionValet Sdn Bhd, an e-commerce platform, to assess their assets, financial sources, and use of investment funds from Khazanah Nasional Bhd and Permodalan Nasional Bhd. MACC chief commissioner Tan Sri Azam Baki said the probe would focus on whether these funds were spent properly. About 60 boxes of financial documents, seized from FashionValet, Khazanah, and PNB, are under review. The investigation covers FashionValet’s performance and profitability from 2018 to 2023, following Prime Minister Datuk Seri Anwar Ibrahim’s call for an audit into a RM43.9 million loss.

FashionValet founders

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